The Essentials of Risk Management, Third Edition

  • 21h 14m 29s
  • Dan Galai, Michel Crouhy, Robert Mark
  • Recorded Books, Inc.
  • 2023

The "bible" of risk management—fully updated for an investing landscape dramatically altered by social and technological upheavals

When it was first published in 2005, The Essentials of Risk Management became an instant classic in risk management. Now, the authors provide a comprehensively updated and revised edition to help you succeed in a world rocked by unprecedented changes.

Combining academic research with real-world applications, this bestselling guide provides the expert insights that has made it so popular for so many years, covering the most effective ways to measure and transfer credit risk, increase risk-management transparency, and implement an organization-wide enterprise risk management approach. In addition, it covers a wide range of new issues, including: fallout from the COVID pandemic; new emerging risks associated with digital finance; the effect of climate change on risk management; and game-changing new technologies like machine learning, artificial intelligence, and distributed ledger technology.

The definitive resource for quantifying risk versus return, The Essentials of Risk Management delivers everything you need to safeguard your investments in today's economy.

About the Author

Dr. Michel Crouhy, a managing partner at Black Diamond Advisory, serves as a senior advisor to NATIXIS. Previously, he was head of Research and Development at Natixis and head of Risk Analytics at the Canadian Imperial Bank of Commerce. Crouhy is a member of the Research Advisory Council of the Global Risk Institute, a member of the Scientific Executive Board of the Louis Bachelier Institute, and a cofounder of PRMIA.

Dr. Dan Galai is the Abe Gray Professor (Emeritus) of Finance and Business Administration at the Hebrew University, Jerusalem, School of Business Administration. He serves on the boards of a new digital bank and a few technology startups. Dan is a cofounder of PRMIA.

Dr. Robert Mark is a managing partner at Black Diamond Risk and serves on several boards. Previously, he led treasury/trading activities and was a Chief Risk Officer at Tier 1 banks. Mark was the partner in charge of a top-tier accounting company's Financial Risk Management Consulting practice, is the founding executive director of the MFE Program at UCLA, a past GARP Risk Manager of the Year, and a cofounder of PRMIA.

In this Audiobook

  • Introduction to the Second Edition
  • Introduction to the Third Edition
  • Chapter 1 - Risk Management: A Helicopter View
  • Chapter 2 - Corporate Risk Management for Nonfinancial Companies and Start-Ups
  • Chapter 3 - Banks and Their Regulators: The Post-Crisis Regulatory Framework
  • Chapter 4 - Corporate Governance and Risk Management
  • Chapter 5 - Fintech and Its Impact on Financial Intermediation and Risk Management
  • Chapter 6 - Interest Rate Risk and Hedging with Derivative Instruments
  • Chapter 7 - Measuring Market Risk: Value-at-Risk, Expected Shortfall, and Similar Metrics
  • Chapter 8 - Asset/Liability Management and Liquidity Risk
  • Chapter 9 - Credit Scoring and Retail Credit Risk Management
  • Chapter 10 - Commercial Credit Risk and the Rating of Individual Credits
  • Chapter 11 - Quantitative Approaches to Credit Portfolio Risk and Credit Modelling
  • Chapter 12 - The Credit Transfer Markets, and Their Implications
  • Chapter 13 - Counterparty Credit Risk: CVA, DVA, FVA, CECL, and IFRS 9
  • Chapter 14 - Operational Risk
  • Chapter 15 - Model Risk
  • Chapter 16 - Stress Testing and Scenario Analysis
  • Chapter 17 - Risk Capital Attribution and Risk-Adjusted Performance Measurement
  • Afterword


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